93 Lever Street, London

Description

Comprises a ground floor convenience shop. Located 600m west of Old Street Underground Station and National Rail Station. Situated in the heart of Clerkenwell, close to Old Street, Farringdon and the City. Local occupiers include Clermont Hotel Group and a range of local traders. By Order of Receivers.

Accommodation

Total accommodation of approximately 23.8 sq m (256 sq ft). Ground floor convenience shop.

Location

Lever Street is situated within the London Borough of Islington, approximately 1 mile north of the City of London and within walking distance of Barbican and Clerkenwell. Goswell Road (A1) links to The City to the south and the A1(M) to the north, whilst City Road (A501) links with the A10 and Shoreditch to the east and King's Cross to the west. Old Street Station is within a 5 to 7 minute walk. Barbican Station and Farringdon Station are also close by. The property is situated on the south side of Lever Street, immediately east of its junction with Central Street and parallel to Seward Street. The property sits just north of Percival Street and west of Bath Street.

Tenure / Property Information

Investment Analysis

The property is a 256 sq ft ground-floor convenience shop held on a 999-year lease from 12 September 2007 at a peppercorn ground rent. The £100,000+ guide equates to approximately £391 per sq ft, but no commercial sold comparables, rent evidence or formal valuation evidence has been supplied. The residential rental listings are not suitable evidence for valuing or calculating the yield of this shop. GDV, rent and maximum bid cannot therefore be reliably estimated.

Investment Snapshot

Strategy Recommendation

Proceed only as a conditional commercial investment purchase after obtaining a commercial valuation, market-rent evidence, lease review and full condition assessment. Do not rely on the supplied residential rental listings.

Works Required

No specific defects, repairs or refurbishment requirements are evidenced. Confirm the shop’s physical condition, services, statutory compliance, EPC position and any tenant or occupational requirements before bidding.

Rental & Market Context

Potential BRRR Position

A BRRR strategy cannot be underwritten from the supplied evidence because there is no supported commercial rent, GDV, refurbishment budget or refinance valuation. The long lease and peppercorn ground rent are potentially relevant positives, but lease terms, repairing obligations, permitted use and financing terms require verification.

Buy-to-Let Analysis

This is a commercial shop rather than a residential buy-to-let. No commercial passing rent, market rent or tenant information has been supplied, so rental income and gross yield cannot be established. The residential asking rents provided are not applicable evidence.

Flip Analysis

A flip analysis is not supportable because no commercial sold comparables, resale valuation or selling-cost allowance has been provided. The guide price alone does not establish a resale surplus.

Investor Risks & Due Diligence

• No commercial passing or market rent has been supplied, preventing yield analysis.

• No commercial sold comparables or formal valuation evidence has been provided.

• The supplied rental evidence concerns residential flats and is not directly applicable to the shop.

• The property’s physical condition, services, statutory compliance and EPC position are not evidenced.

• Additional seller or third-party charges may apply, but no amounts are supplied.

• Lease terms beyond the stated 999-year term and peppercorn ground rent, including repairing obligations and permitted use, require legal review.

Recommendation

Proceed only as a conditional commercial investment purchase after obtaining a commercial valuation, market-rent evidence, lease review and full condition assessment. Do not rely on the supplied residential rental listings.

Strategy Rating

Analysis Confidence

The tenure, accommodation, location, lease length, ground rent and guide price are supplied, but there is no commercial rent, occupancy information, sold comparable evidence, condition assessment, EPC, buyer-cost detail or valuation evidence.